News
Legal uncertainty over netting in China threatens Shanghai QCCP status
Foreign banks operating in China's OTC markets face punitive capital charges
US industry at odds over future of XXX captives
Competing solutions to A/XXX reserving proposed as Moody’s warns use of special-purpose vehicles ‘credit negative’
Dealers call for ban on downgrade triggers
Banks struggling to price the risk that downgrade triggers may be exercised, leading to calls for regulators to prohibit their use in derivatives documentation
Italy 'killing its capital markets' with HFT tax
Tax on high-frequency trading and equity derivatives introduced in Italy
FX swaps and forwards off initial margin hook
Working Group on Margining Requirements has confirmed the exemption of FX swaps and forwards from initial margin, as well as a more restricted exemption for cross-currency swaps
People: Exodus of traders from Brevan Howard
Exodus of traders from Brevan Howard
Hedge Funds Review Service Provider Rankings 2013 open for voting
Hedge Funds Review Service Provider Rankings cover a wide range of services including prime brokerage, fund administration and accountancy. They give an insight into what managers and investors value
Structured Products Asia: interest rate rises provide market opportunity
Fixed-income investors are looking at structured products to enhance yield and manage duration
Room for improvement in Remit reporting, say power traders
Lack of renewables data means an increasingly vital part of the market is being excluded, say traders
Dealers split on market-making constraints - Risk survey
Just over half of dealer respondents to a Risk survey believe post-crisis rules are constraining their ability to make markets
SEC: critical business continuity tests lacking in run-up to Sandy
Investment advisers accused of lack of preparation in face of Sandy
Barclays and JP Morgan among first to centralise ‘XVA’ desks
Dealers are looking to consolidate desks that manage adjustments for credit, debit and funding valuation
Pakistan adds Basel III capital surcharge to allow for modelling shortfalls
State Bank of Pakistan outlines its Basel III capital requirements for domestic banks
Insurers spur changes in commercial real estate loan market
Firms cherry-pick opportunities as they step in to fill the hole opened by capital-strapped banks
Citi appoints new OTC clearing head for EMEA
In-house lawyer to step into role vacated by Andrew Sterry
Critics assail industry-sponsored study on HFT
Critics say industry-sponsored study into impact of high-frequency trading in futures markets is flawed
PPI payouts heading for £11 billion mark
FCA figures show no sign of slowing as banks step up provisions for payouts
Agency desks hopeful new protocol will solve Dodd-Frank issues
A preliminary protocol to enable four-way FX prime brokerage involving agency desks has been agreed ‘in principle’ and could allow agencies to scale up their activities, having been largely reduced to spot since May
UK insurers ‘in limbo’ as HMRC reviews tax break for perpetual debt
Consultation undermines level playing field between banks and insurers on capital issuance
Leverage ratio changes threaten European clearing model, industry warns
Proposed revisions appear to catch back-to-back trades that are used to get exposure into European CCPs
Newedge research shows CTA capacity concerns overblown
Research from Newedge suggests growth in assets will have muted impact on CTA performance
Mixed picture emerges on hedge fund fee structures
Hedge fund management fees on average are rising while incentive fees fall. However, FoHF performance fees are rising as management fees drop, according to a fee structure study by eVestment
EM currency turmoil reflected in hedge fund performance and flows
Institutional investors may start pulling back from emerging market-focused hedge funds as performance figures in July show a mixed story for the sector as a whole. Flows have slowed significantly
US insurers overhaul lapse risk assumptions
Switch to predictive models to provide better understanding of risk